SOURCE: Putnam Investments

Putnam Investments

December 16, 2009 15:40 ET

Putnam Investments Appoints Scott Sipple to Head Strategic Relationships for Global Distribution Team

BOSTON, MA--(Marketwire - December 16, 2009) - Putnam Investments has officially announced that Scott Sipple has joined the firm as Head of Strategic Relationships, focused on communication with the asset management research platforms of major wealth management firms. The newly created position will report directly to William T. Connolly, Head of Global Distribution for Putnam.

Sipple, 47, a 25-year investment management industry veteran, will play a pivotal role in coordinating the resources of Putnam's investment, product, and relationship management areas, for ongoing awareness-building efforts with leading wealth management partners. He will lead an investment-oriented team that will interface directly with large, sophisticated research teams at these major firms. Sipple joins the firm from Fidelity Investments, where he headed their Bank Trust business unit, focused on serving institutional bank clients nationally.

"Putnam is pleased to strengthen its global distribution capabilities with this new, dedicated role, and to have someone with Scott's industry experience and leadership skills to enhance our company's customer relationship efforts," Connolly said. "As wealth management firms increasingly embrace open architecture for clients and develop more transparent, proprietary research to support their advisors, we think it is important for Putnam to be able to supply these teams with a wide range of product information and insight on the firm," he explained.

Connolly noted that Putnam has been conducting active dialogue with the advisor community to communicate the key steps taken, under President and Chief Executive Officer Robert Reynolds' leadership, to improve performance and revitalize Putnam's business overall, including:

--  A restructuring of Putnam's equity investment division to
    increase individual fund manager accountability and responsibility and
    realign manager and analyst incentives to reward those who deliver top-
    quartile results for clients;
--  Senior hiring in trading, portfolio management, and research,
    including Walter Donovan, the firm's chief investment officer; David
    Glancy; Nick Thakore; Robert Ewing; and,
--  The launching of new products, including the industry's first
    suite of target Absolute Return Funds*; the Spectrum Funds, which invest in
    the securities of undervalued, leveraged companies; and the Global Sector
    Funds, which target stocks in dynamic sectors across global markets.
    

While at Fidelity Investments, Sipple had earlier been responsible for the firm's Investment Consulting Services, working with all distribution channels, from institutional research teams to individual financial advisors, providing proprietary investment and capital markets research to internal and external clients.

Prior to that, Sipple served as a Managing Director, Head of Managed Accounts, Senior Portfolio Management & Analyst Relations for AllianceBernstein Investment Research & Management, helping to pioneer the firm's investment research platform coverage. He was responsible for all investment products in working with proprietary research groups of wealth management firms and earlier had created the investment models and served as Chairman of the Investment Committee for the firm's 529 plan.

Sipple also held senior positions at Portfolio Advisory Group, LLC, and Wedbush Morgan Securities earlier in his career. He received his A.B. degree from Dartmouth College.

About Putnam Investments

Founded in 1937, Putnam Investments is a leading global money management firm with over 70 years of investment experience. At the end of November 2009, Putnam had $114 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Amsterdam, Tokyo, Singapore, and Sydney. For more information, visit putnam.com.

* Putnam's target Absolute Return Funds are not intended to outperform stocks and bonds during strong market rallies.

Putnam mutual funds are distributed by Putnam Retail Management.